The Impacts Of Brazils Ever Changing Political Landscape

Brazil’s Ever Changing Political Landscape Never a quiet month in Brazil’s political scene. In May, there was the overwhelming impact of the taped conversation between President Temer and Joesley Batista, the meat tycoon, which allegedly addressed bribe payments and other criminal acts. Further convolutions in June, as the Prosecutor General denounced the head of the Executive branch for corruption. When conventional wisdom began to take hold that the country might witness the second government change in a little more than a year, a sudden turn of events happened in July. The Supreme Court needs the consent of the Chamber of Deputies to put Temer on a trial. In a show of force, however, the governing coalition swiftly passed a motion in†¦show more content†¦If the Court of Appeals upholds the conviction, he would probably be confined to home arrest and barred from seeking public office for eight years. Lula is a defendant in other four separate criminal cases and this blow might be the first of a series. He is the most prominent opposition leader and his perils further weaken the attempts to oust Temer. Brazilian asset prices reacted strongly (Charts I). Whereas investor sentiment deteriorated sharply when Temer’s taped conversations emerged in mid-May, the recent developments gave rise to rapid appreciation. The remarkable realized volatility in local financial markets came back to the forefront: 15% annualized for the exchange rate and 21% for the stock market index, year-to-date. In one specific case, however, there was a clearly defined trend underneath the noise. Lower-than expected CPI prints, and there has been a string of them, are driving inflation expectations down along with forward interest rates (Chart II). Political gyrations play a minor role here compared to successful disinflation and this speaks to the competence of the economic team. It is premature to conclude that the worst of the political crisis is over. The Prosecutor General will likely denounce President Temer again, this time for obstruction of justice, which should initiate another battle in the Chamber of Deputies.Show MoreRelatedEssay about Definition of Sustainability and a Good Structure of It3277 Words   |  14 Pagesbasic quality of life. The earth’s ecosystem is deteriorating and the climate is changing. We are consuming so much, and so quickly, that we are already living far beyond the earths capacity to support us. And yet, nearly a sixth of our fellow humans go to bed hungry each day: both an unnecessary tragedy and a source of social and political unrest. Meanwhile, our globalized world is more interconnected and volatile than ever, making us all more vulnerable. 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